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Item 5. Market for Registrant’s Common Equity

2024-02-23 compared with 2023-02-23 · 26 added, 13 removed, 16 unchanged (71% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

First Busey’s common stock is traded on The Nasdaq Global Select Market under the symbol “BUSE.”

The Company’s board of directors and management are currently committed to continue paying regular cash dividends;

however, no guarantee can be given with respect to future dividends, as they are dependent on certain regulatory restrictions, future earnings, capital requirements, and financial condition of the Company and its subsidiaries.

Busey’s common stock is traded on The Nasdaq Global Select Market under the symbol “BUSE.”

Busey’s board of directors and management are currently committed to continue paying regular cash dividends;

however, no guarantee can be given with respect to future dividends, as they are dependent on certain regulatory restrictions, future earnings, capital requirements, and the financial condition of First Busey Corporation and its subsidiaries.

See “ Item 1.

1 unchanged sentence

Business—Supervision, Regulation, and Other Factors—Supervision and Regulation of Busey Bank—Dividend Payments ” for further discussion of these matters.

First Busey Corporation | 2023 — 50

As of February 22, 2024, First Busey Corporation had 55,247,094 shares of common stock outstanding held by 1,804 holders of record.

Additionally, there were an estimated 10,830 beneficial holders whose stock was held in street name by brokerage houses and nominees as of that date.

STOCK REPURCHASES

On February 3, 2015, First Busey’s board of directors authorized the Company to repurchase up to an aggregate of 666,667 shares of its common stock.

The repurchase plan has no expiration date.

On May 22, 2019, First Busey’s board of directors approved an amendment to increase the authorized shares under the repurchase program by 1,000,000 shares, and on February 5, 2020, First Busey’s board of directors approved another amendment to increase the authorized shares under the repurchase program by an additional 2,000,000 shares.

During the fourth quarter of 2022, the Company purchased no shares under the plan.

As of December 31, 2022, the Company had 147,210 shares that may still be purchased under the plan.

STOCK REPURCHASE PLAN

On February 3, 2015, First Busey Corporation's board of directors approved the Stock Repurchase Plan to enable Busey to purchase shares of its common stock through various means including purchases executed on the open market, through block trades or otherwise, and in privately negotiated transactions.

The Stock Repurchase Plan provides Busey with treasury shares from which stock-based compensation can be issued, and limits the number of outstanding shares that may be actively traded.

The Stock Repurchase Plan does not obligate Busey to purchase any shares of its common stock, and has no expiration date.

The Stock Repurchase Plan may be terminated, or the number of shares authorized for repurchase may be increased or decreased by Busey's board of directors at its discretion at any time.

Under the Stock Repurchase Plan, Busey's board of directors has authorized shares for repurchase as shown in the table below:

Number of Shares Authorized

February 3, 2015 666,667

May 22, 2019 1,000,000

February 5, 2020 2,000,000

May 24, 2023 2,000,000

Total shares that have been authorized for repurchase under the plan 5,666,667

During the fourth quarter of 2023, Busey purchased 117,812 shares of its common stock pursuant to the Stock Repurchase Plan, as reflected in the table below.

As of December 31, 2023, Busey had 1,919,275 shares that may still be purchased under the Stock Repurchase Plan.

Period Total Number of Shares Purchased Weighted Average Price Paid per Common Share Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs

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Year ended December 31, 2023 227,935 $ 19.67 227,935

PERFORMANCE GRAPH

The following graph compares First Busey’s performance, as measured by the change in price of its common stock plus reinvested dividends, with the Nasdaq Composite and the S&P US BMI Banks – Midwest Region for the five years ended December 31, 2022.

First Busey Corporation | 2023 — 51

STOCK PERFORMANCE GRAPH

The following graph compares Busey’s performance, as measured by the change in price of its common stock plus reinvested dividends, with the Nasdaq Composite and the S&P U.S.

BMI Banks – Midwest Region for the five years ended December 31, 2023.

Banks in the S&P U.S.

BMI Banks – Midwest Region Index represent all Major Exchange Traded Banks in S&P Capital IQ’s coverage universe that are headquartered in Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, South Dakota, and Wisconsin.

As of December 31,

Index 2018 2019 2020 2021 2022 2023

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Nasdaq Composite 100.00 136.69 198.09 242.03 163.27 236.16

Banks in the S&P U.S.

BMI Banks - Midwest Region Index represent all Major Exchange Traded Banks in S&P Capital IQ’s coverage universe headquartered in Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, South Dakota, and Wisconsin.

First Busey Corporation | 2023 — 52

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity